Loan Sales and Servicing Activities (Tables)

6 Months Ended

Jun. 30, 2023

Loan Sales and Servicing Activities

Summary of cash flows between the Company and transferees upon sale of loans in transactions

	Quarter ended June 30,				Six months ended June 30,
	2023		2022		2023		2022
	(in thousands)
Cash flows:
Sales proceeds	$	25,024,768	$	19,574,766	$	38,410,109	$	50,841,788
Servicing fees received	$	282,315	$	228,834	$	550,738	$	433,762

Summary of sale of loans between the Company and transferees upon sale of loans in transactions

	June 30,		December 31,
	2023		2022
	(in thousands)
Unpaid principal balance of loans outstanding	$	319,257,805	$	295,032,674
Delinquent loans:
30-89 days	$	11,388,376	$	11,019,194
90 days or more:
Not in foreclosure	$	6,097,693	$	6,548,849
In foreclosure	$	708,722	$	834,155
Foreclosed	$	10,983	$	12,905
Loans in bankruptcy	$	1,256,468	$	1,143,484

Summary of servicing portfolio

	June 30, 2023
	Servicing				Total
	rights owned		Subservicing		loans serviced
	(in thousands)
Investor:
Non-affiliated entities:
Originated	$	319,257,805	$	—	$	319,257,805
Purchased		18,474,265		—		18,474,265
		337,732,070		—		337,732,070
PennyMac Mortgage Investment Trust		—		234,476,519		234,476,519
Loans held for sale		4,250,706		—		4,250,706
	$	341,982,776	$	234,476,519	$	576,459,295
Delinquent loans:
30 days	$	9,249,438	$	1,461,447	$	10,710,885
60 days		2,773,726		341,976		3,115,702
90 days or more:
Not in foreclosure		6,314,682		846,880		7,161,562
In foreclosure		787,804		69,863		857,667
Foreclosed		12,688		5,438		18,126
	$	19,138,338	$	2,725,604	$	21,863,942
Loans in bankruptcy	$	1,385,130	$	155,453	$	1,540,583
Custodial funds managed by the Company (1)	$	5,377,724	$	2,687,024	$	8,064,748

(1) Custodial funds include cash accounts holding funds on behalf of borrowers and investors relating to loans serviced under servicing agreements and are not recorded on the Company’s consolidated balance sheets. The Company earns placement fees on certain of these custodial funds where it owns the MSRs and these fees are included in Interest income in the Company’s consolidated statements of income.

	December 31, 2022
	Servicing				Total
	rights owned		Subservicing		loans serviced
	(in thousands)
Investor:
Non-affiliated entities:
Originated	$	295,032,674	$	—	$	295,032,674
Purchased		19,568,122		—		19,568,122
		314,600,796		—		314,600,796
PennyMac Mortgage Investment Trust		—		233,575,672		233,575,672
Loans held for sale		3,498,214		—		3,498,214
	$	318,099,010	$	233,575,672	$	551,674,682
Delinquent loans:
30 days	$	8,903,829	$	1,576,414	$	10,480,243
60 days		2,855,176		337,081		3,192,257
90 days or more:
Not in foreclosure		6,829,985		888,057		7,718,042
In foreclosure		914,213		75,012		989,225
Foreclosed		13,835		7,979		21,814
	$	19,517,038	$	2,884,543	$	22,401,581
Loans in bankruptcy	$	1,291,038	$	125,719	$	1,416,757
Custodial funds managed by the Company (1)	$	3,329,709	$	1,783,157	$	5,112,866

(1) Custodial funds include cash accounts holding funds on behalf of borrowers and investors relating to loans serviced under servicing agreements and are not recorded on the Company’s consolidated balance sheets. The Company earns placement fees on certain of these custodial funds where it owns the MSRs and these fees are included in Interest income in the Company’s consolidated statements of income.

Summary of the geographical distribution of loans for the top five and all other states as measured by the total unpaid principal balance (UPB)

	June 30,		December 31,
State	2023		2022
	(in thousands)
California	$	69,242,770	$	68,542,279
Florida		54,537,628		50,873,961
Texas		52,283,855		47,911,696
Virginia		34,432,055		33,478,151
Maryland		25,999,115		25,473,417
All other states		339,963,872		325,395,178
	$	576,459,295	$	551,674,682